KAZ: Kazakhstan oil producer with lots of potential.

BMB Munai, incorporated in 2003 and based in Kazakhstan, is involved in oil and natural gas exploration and production. The Company is primarily focused in onshore proven oil and gas producing regions of the Caspian Sea region in Kazakhstan. The webpage offers this about the companies operations, "We conduct our operations in Kazakhstan through a 100%-owned subsidiary, Emir-Oil, LLC (Emir-Oil), a company, organized under the Kazakhstani legislation. Kazakhstan is becoming an increasingly important part of the global economy for its abundant natural oil and gas reserves, and its economy is expected to see growth throughout the next decade in both production and exportation. Kazakhstan's main export business is in Russia, the Persian Gulf and China. Because of its strength in these nations, there has been great infrastructure improvement for BMB through investments made with these trading partners." (BMB Munai home page) The company currently has a market cap of around 300 million. The company seems to be currently geting buy recommendations from several analysts. P/E 15ish,P/S 6ish,and P/B 2ish are all signifigantly lower than industry competitors. Eps growth loks to be around 7,000% mrq, and 683%ttm. Revenue growth looks quite attractive at 650%mrq vs. industry 38%.(ttm355%). There are alot of warning sign's with this company, also the government of Kazakhstan has been "re-negotiating" some of it's contracts with aome of the major oil players. Though Kazakhstan is rich with oil, not as much as been found as the international oil exploration companies had hoped for. This company is currently involved in litigation with Sokol holdings. If you would like to read more about BMB Munai(KAZ), a great article by Nathan Rogers entitled "BMB Munai: Cheapest Oil Producer in Kazakhstan" can be found on Seeking Alpha.